Pinterest Gets More Tiktok-Like With A ‘Watch’ Tab For Videos, Announces $20M In Creator Rewards
10/20/21, 2:57 PM
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financial services
software
Pinterest has been trying to reposition its business as a home to creators, not just a shopping inspiration site. Today, the company revealed its latest efforts on this front, which include more Snapchat and TikTok-inspired features, including a vertical video feed and plans to invest $20 million in “Creator Rewards.” It’s also announcing a series of expanded creator tools, like the ability to respond to videos with “Takes,” support for Amazon Affiliates, and more, as well as the launch of original content.
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(The company has before used celebs to promote its other creator-focused efforts, including Queer Eye’s Jonathan Van Ness, during a virtual creator event this year.) The company says it’s launching a $20 million Creator Rewards fund in the U.S. — its first-ever in-product creator monetization program — initiate that will pay creators for participating in its challenges issued by Pinterest. The company says it will also offer “micro-grants” to fund various projects; think: a community garden, a wellness program, or a new beauty look, the company suggests. The new sticker will support over 10,000 try-on enabled products, Pinterest says.